The value of Saudi nonoil exports stood at SR 16.24 billion for the month of April in 2012, up SR 3.41 billion for the same period last year, an increase of 27 percent, according to a report by the Central Department of Statistics and Information.
Exports of petrochemical products ranked first capturing 35 percent of total nonoil exports at the value of SR 5.69 billion, followed by plastic products (29 percent) at SR 4.74 billion and foodstuffs (7 percent), the report said.
Meanwhile, China ranked first for countries mostly receiving Saudi nonoil exports by 11.1 percent of total exports, followed by the United Arab Emirates (UAE) and Singapore by 11.1 percent and 6.9 percent respectively.
On the other, the value of Saudi imports in April 2012 increased by 9 percent at SR 44.08 billion, an increase of SR 3.56 billion, compared to the same period last year, the report said.
Machines and electric equipment topped highest value of Saudi imports during April at SR 11.13 billion, an increase of 25 percent, followed by transport equipment at SR 7.64 billion (17 percent), minerals and their products at SR 6.72 billion (15 percent), and foodstuffs at SR 6.06 billion (14 percent), according to the report.
The United States ranked first of countries exporting goods to Saudi Arabia in April 2012 at 14 percent followed by China and Japan at 13 percent and 7 percent respectively, the report said.
Saudi Arabia exported Saudi-origin nonoil goods to the GCC countries in the amount of SR 2.56 billion in April 2012 compared to SR 2.47 billion in the same period last year, an increase of 3 percent, while the national origin imported goods from GCC states amounted to SR 3.64 billion compared to SR 2.65 billion of the same period last year, an increase of 37 percent, the report said.
Bursa likely to extend profit taking
Share prices are expected to undergo further profit-taking next week with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) possibly retreating to the 1760 points support level.